Hope Bancorp, Inc. (NASDAQ:HOPE) Stock Has Consensus Price Target of $15.50

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $15.50.

Several analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Hope Bancorp from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Benchmark raised shares of Hope Bancorp to a “hold” rating in a report on Wednesday. DA Davidson raised their price objective on shares of Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th.

Hope Bancorp Stock Up 0.8%

HOPE stock opened at $13.83 on Wednesday. Hope Bancorp has a 1-year low of $9.80 and a 1-year high of $14.59. The business’s 50 day simple moving average is $13.97 and its 200 day simple moving average is $12.93. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.77 billion, a PE ratio of 13.83 and a beta of 0.83.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $147.82 million during the quarter, compared to analysts’ expectations of $146.50 million. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. During the same period in the previous year, the business posted ($0.22) earnings per share. As a group, research analysts anticipate that Hope Bancorp will post 1.13 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, August 6th. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Insiders Place Their Bets

In related news, Director Daisy Ha sold 26,995 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $14.24, for a total value of $384,408.80. Following the completion of the sale, the director directly owned 346,120 shares in the company, valued at $4,928,748.80. The trade was a 7.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.27% of the company’s stock.

Institutional Investors Weigh In On Hope Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Hope Bancorp during the 2nd quarter worth $252,703,000. Wellington Management Group LLP increased its position in shares of Hope Bancorp by 14.5% in the second quarter. Wellington Management Group LLP now owns 11,438,933 shares of the financial services provider’s stock worth $156,485,000 after purchasing an additional 1,448,931 shares during the period. Dimensional Fund Advisors LP raised its stake in Hope Bancorp by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 7,367,855 shares of the financial services provider’s stock valued at $82,298,000 after purchasing an additional 315,028 shares in the last quarter. Rhino Investment Partners Inc raised its stake in Hope Bancorp by 9.9% in the first quarter. Rhino Investment Partners Inc now owns 2,595,281 shares of the financial services provider’s stock valued at $28,989,000 after purchasing an additional 232,783 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Hope Bancorp during the second quarter worth about $12,098,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

About Hope Bancorp

Hope Bancorp, Inc is a bank holding company headquartered in Los Angeles, California. Its principal subsidiary, Bank of Hope, provides banking and financial services to businesses, individuals and organizations, with a particular focus on small and middle-market companies and Korean American communities in the United States.

Bank of Hope offers commercial and industrial loans, commercial real estate financing, Small Business Administration loans, residential mortgage loans, consumer lending, deposit accounts and cash-management services.